AST SpaceMobile (ASTS) Soars 13% on Telus Backing

AST SpaceMobile Inc. (NASDAQ:ASTS) is one of the 10 Stocks Dominating Today's Market Action.

AST SpaceMobile clawed back to the $100 territory on Wednesday, after securing the backing of a Canadian technology giant for its space-based cellular broadband network connectivity.

At intra-day trading, the stock climbed to its highest price of $106.66 before trimming gains to finish the session just up by 13.17 percent at $104.89 apiece, following announcements that Telus Corp. would invest in ground-based satellite infrastructure and become an equity shareholder of AST SpaceMobile Inc. (NASDAQ:ASTS).

The deal would allow Telus customers to use their existing smartphones by late 2026 to send messages, make calls, and use data in Canada’s remote locations, thanks to AST SpaceMobile Inc.’s (NASDAQ:ASTS) low-earth orbit satellite constellation.

“Canada’s vast geography, remote industries and dispersed communities make universal connectivity both a challenge and a necessity. By combining Telus’ proven leadership in network innovation with AST SpaceMobile’s innovative technology, we aim to provide seamless mobile coverage from city centers to the most isolated regions, ensuring people, businesses and first responders stay connected when it matters most,” AST SpaceMobile Inc. (NASDAQ:ASTS) Chief Commercial Officer Chris Ivory said.

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